Worli is in the New Hot Spot and the new city centre of Mumbai, with Morgan Stanley picking up another 86200 sq ft at the Altimus Towers, Worli which is going to be one of the Newest and most Premium Commercial Development for Head Quarters in Mumbai. On the other hand BKC is now being awarded the 2nd Central Business District of Mumbai by Mr.Eknath Shinde CM - Maharashtra.
If you are in Bandra and near Western Express Highway the time to reach BKC and to Worli New Commercial office building Altimus of K Raheja Corp off.Dr.Annie Beasant Road, is pretty similar through the Bandra Worli Sea Link and it is far more refreshing ride than going to BKC with the current traffic conditions in reaching into BKC.
Worli as a location with High End Commercial and Residential buildings is likely to command a better pricing and higher lease rent returns. The Altimus building is located off Dr.Annie Beasant Road and on the South, North and West side from higher floors it will get Sea View and South Mumbai and Worli - Prabhadevi side view and from the East side it will look into Mahendra Towers and Lodha Worli Towers - Trump Towers and Birla Niyaara side.
Morgan Stanley has already office spaces in Goregaon and the very fact that they have chosen Worli as a location speaks volumes about the fact, that this location is far preferred by the Top Management who already reside in Oberoi Three Sixty West, Raheja Artesia, Lodha World Towers, India Bulls Blu, Raheja Vivarea, Omkar 1973 and the entire South Mumbai. In the past 5 years we have seen most of high ticket transactions by High Net Worth individuals in the Worli - Bandra who are who so who of the Indian Corporate and Heads of institutions.
K Raheja Altimus is one of the latest buildings by the renowned K Raheja Corp and with Morgan Stanley taking up nearly 86200 Sq.Ft will open up vistas for other MNCs to have their operations in South Mumbai and in a A Grade Development. The lease rent value transacted at Rs.325/- PSF introduces the base rate for this building and with 6 months deposit. K Raheja had acquired this land of 3 acres from Siemens and this entire building should be ready by Mid 2023.
Its interesting to see that, while BKC has been favored a lot by MNC’s - Worli which houses CJ House etc. is now going to be an alternate option for large corporates who do not need to be in BKC and yet be in one of the most plush addresses in South Mumbai. With coastal road coming from Nariman Point to Worli the distance for HNI’s residing at Walkeshwar and Cuffe Parade won’t be too much and knowing K Raheja and their efficient team, they will fill up this building in no Time.
In a short span of max around 18 months to 24 months, the Worli - Dr.Annie Beasant Road Metro Station will be ready which will be less than 5 min walk from which means superb connectivity for other office team mates who may be traveling from Suburbs or from Cuffe Parade.
Oberoi Realty has a large piece of land where the Worli TV Tower is and across the road the HBS stalled project is likely to be acquired by a leading developer so Worli - Dr.Annie Beasant Road neighborhood has lots in store.
So if you are looking to invest, buy, sell in Worli, then please be mindful of the infrastructure and prime real estate being developed.